The bank also proposed raising $400 million via a convertible bond issue from shareholders at 6.46 percent above Libor. It said it had received subscriptions from existing shareholders for around $300 million.
Ecobank, which operates in nearly 40 African nations, reported a loss before tax of $131.3 million for 2016 compared with a loss of $205.2 million a year earlier. [nFWN1HQ0E3]
(Reporting by Chijioke Ohuocha; Editing by Mark Potter)